At what age can you start collecting social security?

As of 2015, individuals can begin to collect Social Security as early as age 62, according to the Social Security Administration. While collection at age 62 is allowed, individuals can collect Social Security from age 65 to 70, depending on the year they were born.

Collecting benefits before the full age of retirement results in a decreased benefit amount, the Social Security Administration explains. As of 2015, individuals born in 1937 reach full retirement at age 65. Those individuals see a 20 percent decrease in their monthly benefit if they decide to collect Social Security at age 62. The full retirement age increases incrementally until the age of 67 for individuals born in 1960 or later.